Kroger Co. CEO Rodney McMullen has resigned from his post following an investigation into his personal conduct, according to a statement from the company. The board’s decision comes after an independent investigation found that McMullen’s behavior was “unrelated to the business” but still “inconsistent with Kroger’s Policy on Business Ethics.”
McMullen’s departure marks months since Kroger ended its $25 billion merger with Albertsons under his leadership, which ultimately led to a lawsuit from Albertsons alleging breach of contract. Interim CEO Ronald Sargent has been appointed chairman of the board and will oversee the company’s strategy alongside experienced management.
Sargent brings 35 years of retail experience, including stints as the chairman and CEO of Staples, Inc., and has been a Kroger director since 2006. As interim CEO, he is committed to ensuring Kroger continues to provide exceptional value for customers while executing the company’s strategy.
The resignation comes amid a significant shift in Kroger’s leadership following the failed merger with Albertsons. With Sargent at the helm, the company aims to move forward and deliver on its promises to customers.
Source: https://www.foxbusiness.com/economy/kroger-ceo-resigns-after-board-investigation-his-personal-conduct